This report summarizes selected findings of a three‐year research effort undertaken by INSEAD, Copenhagen Business School (CBS), Bocconi University, and the Leon Kosminski Academy. It is part of a larger European Commission‐funded study, entitled "RESPONSE”. This project has aimed at understanding how multinational firms see their responsibility towards society and how this is aligned (or not) with the expectations of their stakeholders. Preliminary findings were developed in a final report which was presented at a conference in autumn 2007 at INSEAD, Fontainebleau (please find link in the appendix).